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LA Noire developer Team Bondi shutting down

Team Bondi, developer of Rockstar hit LA Noire, is kaput. Edge reports that documents were filed with the Australian Securities and Investments Commission, indicating that the studio would close. The studio entered administration in late August, with its assets reportedly sold to Australian production company Kennedy Miller Mitchell.

In time, the truth will shake out about what went wrong at Team Bondi, in a year that should have established the studio as a force ending with its demise. For those who only care about the future of LA Noire ... don't you worry, IP holder Take-Two Interactive (parent company of Rockstar) isn't about to let a new series -- that shipped 4 million copies -- just disappear.